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20131202
20131210
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discussing with you a moment ago, i talked to four former aides to president obama. the white house isn't confirming this but all four of them said they expect that president obama will, in fact, attend that ceremony along with other world leaders. we saw president obama come into the briefing room as in the clip that you played tonight where he referred to nelson mandela as an inspiration, an example for him from the earliest phase of his political stirrings as a student at occidental college where he attended an anti-apartheid protest there. of course, nelson mandela is someone who was the first african-american or excuse me, the first african leader, black african leader of south africa which had been governed by a white government, president obama followed in that footstep as the first african-american president of the united states, and he said that he would spend the rest of his life trying to live up to and follow nelson mandela's example. what was so notable about nelson mandela was that he actually achieved in practice the promise that president obama had held out in 2004 at th
-night talk show humor, meaning obama care, and also have the people who watch those shows say, boy, i better hurry and sign up. we have no idea now. and the trends aren't good. >> thanks very much, steve. we appreciate it. the question is, will the back-end insurance errors derail the small amount of enrollments that have been completed? paul, front end, are you satisfied with what happened in the front end? before i get to the back end, front end, november, where are you on this? >> they are way behind etch their own estimates. only 100,000 people signed up to this point. they estimated 800,000 people by the end of the month. their success rate, 80% of people can logon. that's a terrible rate. any online merchanter will tell you that 20% is a terrible failure rate. the administration is setting up its own deadlines and saying, we passed them. but a very poor situation -- >> did they get a grace period on this -- in other words, did they win something back -- i don't want to be so totally 100% critical even though i think it's ludicrous. but do they get a grace period on this? >> at the end
of here. warp speed. ♪ >>> welcome back. president obama talking up the merits of a minimum wage hike in washington. john harwood joining us about what the president's been saying. why now? why the timing? >> president obama is trying to get out of the defensive crouch he's been with the struggles over the healthcare.gov website. now that the administration believes it has turned around that website, it's trying to go on offense and stalk about his economic agenda for narrowing income inequality. part of that is health care itself. part of that is investments and infrastructure and education. part of it, as the president said in the speech today at center for american progress, is a raise in the minimum wage. >> last month voters in new jersey decided to be the 20th state to raise theirs even hi high higher. that's why the d.c. council decided to do it, too. i agree with those voters. i'm going to keep pushing until we get a higher minimum wage for hard working americans across the entire country. >> note, president obama invoked new jersey, the state of governor chris christie, who m
of emergency unemployment benefits. the president said when budget talks get going obama care will not be on the table because, he said, his plan is ending one of america's worst inequities, unequal access to health care. larry. >> thanks very much, steve handelsman. we appreciate it. i'm going to say it again with all due respect to mr. president, growing income inequality is not the greatest challenge of our time. we need strong economic growth. that's the biggest challenge. i need a rising tide to lift all boats and help all-americans without these class warfare divisions. so let's talk. joining us now is former chief economist for vice president biden, jared bernstein. he's at the center of budget and policies. jim pazakukas is with the american institute and cnbc. jimmy p., what about income inequality. there's a lot of studies out there and they show in the last 20 or 30 years that hasn't happened. that's not true. it's a bogus issue. >> i don't want to have study versus counter study. income inequality, the top 90% and 10% have increased. a lot of disputes about how hig
is an important point to keep in mind. we're talking about a health care plan in terms of obama care, affordable care act, whatever you want to call it, that's going to provide health care coverage for tens of millions of americans that did not have it previously. you're talking about people who had pre-existing conditions that were not able to get health care coverage before let's not pretend like this notion of deductibles and co-pays and out-of-pocket expenses is somehow a new phenomenon. that had been the norm of our health care practice. >> i want to tell you this, it's not the notion of deductibles or the notion of premiums. it's not the notion of doctors and hospitals. it's the fact, it's the reality. it's the volume. it's the level. that's what's missing. and you know why it's missing? because whatever government does with their rationing and their controls, they do it wrong. we've learned this for thousands of years. and i can't give you a lecture tonight. chris kofinis, you take this emanuel guy, put him in moth balls, buddy. mike slater, great to see you. and dr. scott gottlieb, as al
see the white house wanting to talk about obama care every day until december 23rd. i have a suspicion you'll start seeing republicans trying to change the topic, change the subject because the president finally realizes that once americans see the product, once they go to the website which is quite beautiful if you go the site, they are going to realize that these options -- >> they fixed the front door of this site. the site is not able to give reliable information to the insurance companies that people who are desperate for coverage are signing up for. >> thousands of people are signing up every day. >> were they getting health insurance? i don't think so. until they pay that premium they are not going get their coverage until their identity is verified. we're about to hit the wall with millions of people who are desperate because they lost their coverage, they cannot get it through this website, they can't get it because this website doesn't work and they have admitted they have focused on front door not the back door. >> you both are terrific. the back door stuff, i think grace ma
, republicans want to talk about obama care, they want to talk about other issues. they think they can beat up on obama and the democrats and don't want to get bogged down by shutdowns and debt limit fights. there's no reason to think stocks are too high because washington's going to kill everything. >> and maybe it was set so low because it was on the floor. >> you can't go much lower than they are. they can clear the bar for expectations which is no shut down. and maybe get the approval ratings in the 10% range, double digits at some point. >> one of the things we've been watching is what the fed's going to do next. how much do you think the fed has been responsible for this. and if the tapering begins, is that really something that takes the steam out of the market? not if it's just based on valuations like you've been talking. >> i have not been of the view that fed-driven liquidity is the sole support under the market. we touched on it a few minutes ago, there are many traditional fundamental supports, not least being simple gdp growth. and the base from which we came classic epic market
, whether you're talking about new york city and de blasio or obama and the rest of the country. how much do you as a country or a nation want to offset these much bigger global forces and when do you kill the goose that lays the golden egg. that's the question. >> and you know, no country really does income quality terribly well that i know of. >> sweden, norway. >> some of those social democracies have had less of that. they don't have high-end wealth in the same way that we do here. anyh anyhow, it is an issue. >> it's a consequence of growth. >> inequality can lead to social unrest. >> all right. >> take one thing away sfli don't think we're going to solve it today but to the yahoo! poll and see what you think. here is our question of the day. the president speaking about income inequality. what is the solution? 19% of you say raise the minimum wage. 51% say more tax breaks for the middle class. 17% say raise taxes on the rich. >> surprising. >> and 13% say limit executive pay. sue? >> very interesting. all right. it's getting really cold out there. a cold snap gripping the western half
'll talk about the job market the impact of obama care, fed tapering and much, much more. stick with innovation. stick with power. stick with technology. get the new flexcare platinum from philips sonicare and save now. philips sonicare. [ male announcer ] what if a small company became big business overnight? ♪ ♪ like, really big... then expanded? ♪ ♪ or their new product tanked? ♪ ♪ or not? what if they embrace new technology instead? ♪ ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. ya know with new fedex one rate you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. >>> welcome back. we received a ton of reaction in the last 24 hours about an interview yesterday on the "closing bell" with the current mcdonald's worker. he makes federal minimum wage $7.25
their families better. what's a better policy starting right now that president obama should be talking about instead of what he's doing, which is hurting poor people such they can make more money no matter how much it costs. >> look, just to be clear. i like the question, but i don't agree with the premise. i do think a moderate increase would help. to answer the part of your question that i agree with, here's what i think he should do. the earned income tax is a very important pro work subsidy. this is a good way to help low-wage people. but for childless adults, adults who don't have kids, it's rea y really -- i would increase the childless adult part of the earned income credit so that single folks can make a decent wage, as well. >> so you -- will you acknowledge i didn't set you up, bernstein? >> not only acknowledge that, i'm ready to give you a hug. >> okay. >> i'm ready to do that to you too. >> all right. man hug. little man hug action. >> where are you? >> i'm in d.c. i'm not willing to come up to jersey to give you a hug. >> that could take a while. and you can use my -- some of
're going to talk about everything from obama care to the debt ceiling and whether or not the art of compromise is dead in washington. we have the unique perspective of a former beltway insider right after this. >>> first, though, as we head to the break, let's take a look at the biggest winners and losers on the s&p year-to-date. >>> welcome back, everybody. our guest host this morning, former senator bob kerrey who was the executive chairman for research and scholarship. and bob, we've had you on most of the morning and haven't touched on what's been happening in washington. big headlines this morning from all of the major newspapers focus on what's happening with obama care right now. the "new york times" is claiming that insurers say the health care website is still flawed. the "wall street journal" says that connecticut is considering bypassing some of the back ends just to check to make sure that people are actually residents and whether or not they would qualify for a lot of the aid. and with the deadline approaching january 1st for when a lot of the health insurance plans
's make them functional. >> what you were talking about is repealing obama care. >> i don't know. obama -- there's no mandate in corporations now. >> i would call it limiting the damage, start moving toward a free market-based solution. >> none of it is going to work. if young people get to opt out. i'm saying, the only way actuarily it -- >> they're going to pay the penalty which won't be collected. and we've seen memos, they have no method of collecting this thing. and when you can buy insurance regardless of pre-existing conditions, why buy it ahead of time? and so that -- those are the incentives -- >> your 27-year-old example, he won't buy health care. >> it's $100 penalty or something like that right now? >> but it's going to be 2.5% of their income in two or three years. this isn't about choice, this isn't about freedom. this is about coercion. i think americans are going to take a look at this and they're going to see it's a disaster. they are going to demand change. and i think the responsible thing for republicans to do is do everything we can to limit the damage, try to prese
this is what president obama called the defining challenge of our time in this economics talk yesterday. the fact is, the restaurant industry noted that the majority of the jobs our economy is creating are in these low payment fields like restaurant and retail. these aren't team jobs if they ever were. now tens of millions of adult americans spend their time cycling through these careers, these jobs. at $9 an hour, they're not sustainable. so what the fast food workers are calling for is a raise in pay and sit down with the industry for negotiationing a plan to transition to a higher wage, a higher productivity business model. >> how does the industry afford it? at the end of the day, higher wages is going to mean -- i mean, it's going to feed through and we're going to get higher cost of food, aren't we? >> so the road map for how to do this is what's happened with other similar industries in the u.s. in the big cities, they've been given more money through a similar model. there is a huge amount of revenue in the restaurant industry, but it's being skimmed off on the corporate chains.
to enforce that tapering is not tapering, like changing the unemployment threshold they have been talking about. larry, back to you. >>> all right, many thanks to bob pisani. now, it looks like more and more like obama care is failing so badly that a bailout is already in the works for the nation's biggest health insurance companies. and that's because of what many are calling the perfect storm. not enough young people enrolling, too many older and sicker people signing up, also there are too many errors in the reporting back end of the health care.gov website. and today, they admitted to the appallingly big error rate. and 65% oppose a rescue for the health insurance industry. you know what, folks. one big bank bailout five yearers ago more than enough, thanks very much. here is independent senior policy analyst hadley heath and with us democratic strategist tracy sefl, lenwood brooks, policy director for public notice and cnbc contributor james pethokoukis of the american enterprise institute. good evening. heather, let me -- let me begin with you. what is up with this? what are they ca
always talking about big government and the problems with the obama care rollout. and if we can put it on the screen, here was his answer. and the challenge, i think, we have going forward is not so much my personal management style or particular issues around white house organization. it actually has to do with what i refer to earlier is, we have some of the big agencies, some of which are outdated, some of which are not designed properly. wow! that's the greatest news of the week. he's saying big government is like an old de soto at a time when we want to drive efficient sports cars. the only question i have is, isn't obama care just another one of those? back to you. >> all right, rick, thank you so much. rick santelli in chicago. >>> nobody puts baby in the corner without an -- without an ipad. [ laughter ] stay tuned for this, the latest in toddler technology in just a moment. hi honey, did you get the toaster cozy? yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to.
, particularly since the fumble with obama care. the republicans may see an opening and may be a reason for them to try to get some things done. >> so, i mean, you talk about the farm bill. do they have a long way away on how much they want to trim from that? democrats want to trim 4 billion, represent can't want to trim 40 billion. this is from the food stamps department. yes, they're talking, which is a good thing. there's still a lot of distance. >> well, there's distance on the food stamp program and that's always the case. democrats, remember, those are more -- those are perceived to be more democratic constituents so they will want to do less, particularly in a mid-term election. i think you can get there, come together middle of the road, split the baby. this farm bill is important to republicans. that shows that the republicans are showing a lot more flexibility. they need a win more than the democrats need a win in this mid-term election particularly because they see that they may have the president and the democrats on their heel with obama care. if they can get a farm bill done and th
not only how obama care will eventually be phased in or whether it will be phased in at all, but what i'm interested in as a market guy is we're talking about 1/6 of the economy. whether you're for it or against it or you believe it's going to work or not going to work, in the end it's 1/6 of the economy, we're the world's leading business channel and it's in our wheelhouse. but one thing that seems to be going on today in it can that is not getting a lot of air time that i find rather fascinating is that the house judiciary committee is holding hearings and they're holding hearings on something rather, i don't know, maybe call it esoteric, maybe call it extreme but let's get to the crux of the matter and i'll get there through an analogy. let's say when we saw at the end of last year that the payroll walked out in january and said basically, listen, i'm going to take a swath of those people whose taxes are going to go up on the payroll tax and i'm going to delay that for a year, would that fly? i don't know that it would fly. we have a constitution and checks and balances. but let's ge
Search Results 0 to 16 of about 17